Progress

March 21, 2009

Development gets national press

National trade publication touts University Corners, mentions possible tenants, such as Irish pub.

By Bill O'Boyle boboyle@timesleader.com
Times Leader Staff Writer
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WILKES-BARRE – University Corners, the mixed-use development on East Northampton Street in the city’s downtown, has caught the eye and approval of a national business magazine.

In its March issue, trade publication Shopping Center Business published a feature story on the project that recently announced condominiums will be available by mid-summer.

The magazine bills itself as “the only business magazine for the shopping center industry, focusing on company profiles, in-depth articles of current industry topics, and activity reports from different geographic areas of the U.S. and abroad.”

After touting the cooperation between government, the Greater Wilkes-Barre Chamber of Business and Industry and private investors that went into building the $31.8 million project, the article mentions potential future tenants being pursued include a brew house or Irish pub concept, a high-end fashion retailer and casual-restaurant dining.

The only current tenants are Wilkes-Barre Movies 14, Januzzi’s Pizza & Subs and soon-to-arrive Blue Chip Gourmet. The article also mentions Quiznos, but that restaurant closed this week, blaming a slowdown in business.

Todd Vonderheid, president and chief executive officer of the Greater Wilkes-Barre Chamber of Business & Industry, said the national publicity is extremely valuable in attracting new business to the city and the region.

“You can’t place a dollar value on the importance of positive national press,” Vonderheid said. “In these difficult economic times, stories like this that highlight success, especially in small markets like ours, grab the attention of readers and become even more meaningful.”

Vonderheid said the journal hits the inbox of the nation’s leading retail real estate professionals and will certainly help Carlsberg Management Co. as it continues to negotiate with national and regional retail tenants.

“Moreover, it will enhance the value of all space and property in the downtown’s entertainment district,” he said.

Mayor Tom Leighton said the article reinforces what he and his administration have been saying for years.

“More and more people are noticing downtown Wilkes-Barre,” Leighton said. “While other cities are at a standstill, we’re moving forward.”

Bill Geary, president of Carlsberg Management, is quoted in the article, saying Wilkes-Barre is unique because “everybody wants to have the retail come back downtown.”

“Many cities are talking about it and whining about it, but Wilkes-Barre has done it, and that’s what really drew us to become a part of it,” Geary said.”

Read the article in Shopping Center Business.

Bill O’Boyle, a Times Leader staff writer, may be reached at 829-7218.

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